Home sales fell more than 20% in Florida last year

In news that surprises no one who’s been following Florida’s housing market the past 12 months, the state’s Realtor’s association says single family home sales in the state fell 18% in 2022.

Condominium and town house sales fared no better, falling 21.7% when compared to 2021.

The market's sharp downturn is largely being blamed on inflation and the Federal Reserve raising interest rates in order to curb it. While both rates and inflation are showing signs of easing, they are likely to be factors that will continue affecting the market this year.